Binance Study: Financial Literacy and Local Payments Could Drive Uzbekistan’s Crypto Market
Economy
Financial literacy, accessible products, local payment solutions and trust in regulated infrastructure could become key drivers of Uzbekistan’s crypto asset market. These are among the conclusions of a Binance study conducted in July and August 2026 among more than 2,000 participants from the local crypto community.
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The study found that users in Uzbekistan are already familiar with digital assets but remain cautious about using them. Some 30.2% of the barriers identified by respondents were linked to a lack of knowledge, while another 21.9% were associated with fear of losing money. More than half of the cited barriers were therefore related to understanding products and assessing risks.
Users also tend to prefer moderate risk. A total of 82.9% of respondents selected low or medium risk, while 12.3% said they were willing to accept high risk. In interviews, participants identified buying and holding digital assets, spot trading, stablecoins and transfers as among the more accessible use cases.
Cryptocurrencies were the most attractive asset class among the options presented, selected by 51.4% of participants. Gold and silver accounted for 18.3%, while bank deposits and stocks each received 10.4%.
Transfers were another important use case. Some 10.9% of respondents identified international transfers as one of the main ways they use cryptocurrencies. According to the World Bank, remittances received by Uzbekistan amounted to 14.4% of GDP in 2024.
Participants also highlighted the importance of access through familiar financial infrastructure, including deposits and withdrawals via Uzbek bank cards and national payment systems. Regulatory compliance was identified as another key factor in building trust, with most interview participants citing compliance with Uzbekistan’s legislation as an important condition for using a crypto service.
Binance operates in Uzbekistan through licensed partner CoinPay under a regulated model. Overall, the study points to potential growth driven by a shift from interest in digital assets toward more everyday use, particularly through accessible products, transfers and local payment solutions.
Users also tend to prefer moderate risk. A total of 82.9% of respondents selected low or medium risk, while 12.3% said they were willing to accept high risk. In interviews, participants identified buying and holding digital assets, spot trading, stablecoins and transfers as among the more accessible use cases.
Cryptocurrencies were the most attractive asset class among the options presented, selected by 51.4% of participants. Gold and silver accounted for 18.3%, while bank deposits and stocks each received 10.4%.
Transfers were another important use case. Some 10.9% of respondents identified international transfers as one of the main ways they use cryptocurrencies. According to the World Bank, remittances received by Uzbekistan amounted to 14.4% of GDP in 2024.
Participants also highlighted the importance of access through familiar financial infrastructure, including deposits and withdrawals via Uzbek bank cards and national payment systems. Regulatory compliance was identified as another key factor in building trust, with most interview participants citing compliance with Uzbekistan’s legislation as an important condition for using a crypto service.
Binance operates in Uzbekistan through licensed partner CoinPay under a regulated model. Overall, the study points to potential growth driven by a shift from interest in digital assets toward more everyday use, particularly through accessible products, transfers and local payment solutions.
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